BlackRock Inc., the world’s largest asset manager, boosted its annual revenue target for 2030 and set its first-ever firmwide target for private-markets fundraising at $400 billion by then.

BlackRock is betting its growing foothold in private markets will boost revenues and lift its market value in the coming years, positioning it as a one-stop investment powerhouse with reach across both public and private assets.

The Larry Fink-led asset manager's revenue "aspiration" comes as it aims to secure a top-five spot in the infrastructure and private credit space, according to its CFO.